A Research On Internal Control Of Insurance Funds Of Y Branch Of T Life Insurance Co.,Ltd.

On the one hand,life insurance companies obtain a large amount of insurance funds by receiving insurance premiums;on the other hand,they pay a large amount of insurance funds for insurance claim,insurance payment,loan,cancellation,expense reimbursement and employee salaries and so on.Therefore,a large amount of insurance funds inflow and outflow develop a operating characteristics of life insurance companies.Additionally,because branch office and central branch office don't own the power to apply insurance funds,the reasearch on internal control of insurance funds of Y branch mainly focuses on insurance funds' flow process.According to the three-level operational organization structure of head office,branch office and central branch office,branch office becomes the link of management department(head office)and direct policy sales unit(central branch office).The research takes the financial department of Y Branch as the object,bases on five components of internal control theory--control environment,risk assessment process,information and communication,control activities and monitoring,analyzes the current internal control situation of insurance funds of Y branch.The research finds these questions:the greatest risks on cash payable process,non-identified effectively insurance funds' risks,non-implemented effectively operational flow process,greatly poor communication channels with business bank and insufficient self-supervision.The ressearch analyses the causes of these questions much futher.Combining with the causes,the experiences of other insurance companies and actual financial department daily work situation of Y branch,the reasearch proposes these geater suggestions and solutions:creating gooder financial department's control environment,enhancing attention on the insurance funds' risks,improving the operational flow process with time factor,keeping and coordinating the partnership with business bank,implementing effectively greater solutions on internal control deficiency.